Introducing Hummus: The Decentralized AMM for Stableswaps on Metis

  1. No impermanent loss risk for liquidity providers
  2. Single-sided liquidity provision
  3. Ultra-low slippage for traders
  4. Minimal fees
  • Hummus combines the speed, security, and efficiency of Metis with an ultra-low slippage stableswap mechanism and dynamic staking rewards system, replacing heritage swaps.
  • Users will be able to swap stablecoins with miniscule loss, stake stablecoins to earn $HUM, and use staked $HUM rewards to increase yield on the staked stablecoins.
  • The Hummus team has raised $1,500,000 from several well-known groups and individuals, led by the Metis Genesi DAC.
  • Hummus will have its fair-launch IDO on Netswap in the coming days.

Hummus Solves Old Problems

In heritage AMMs the liquidity of otherwise fungible tokens is fragmented across multiple pools. This design flaw invariably results in low liquidity, which begets high (and thus very expensive) slippage.

Hummus is Fresh

The Hummus Exchange introduces a flexible liquidity pool architecture utilizing a single-sided staking mechanism allowing for maximum capital efficiency and ultra-low slippage.

Where Hummus Began

Only a chickpea in the team’s eye a few months ago, Hummus has developed quickly into a new major project on the burgeoning Metis network. The Hummus team has raised $1,500,000 from several well-known groups and individuals, led by the Metis Genesi DAC.

Hummus IDO

We’re very excited to welcome the Metis community from the launch thanks to our friends at Netswap! Hummus’ IDO will take place on Netswap’s Launchpad. For information on how to get ready to invest in Hummus via the Launchpad, please see Netswap’s excellent Medium article describing the process. Put simply, it works like this:

  1. Stake NETT to get wNETT as the ticket to enter Netswap Launchpad.
  2. Use accrued wNETT to deposit equivalent stablecoins into the active event on launchpad.
  3. Wait for the launch time to receive new tokens and refunds (if any).

Why Metis is Perfect for Hummus

Metis has developed an “Optimistic” rollup solution to bundle and sequence transactions on the layer above Ethereum and then send that data back as one transaction to the Ethereum Layer 1 main chain. In doing so the Metis Network is able to offer extremely fast transactions that take just a few seconds and cost just a few cents, while still maintaining the security of the Ethereum network.

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